DNDN down huge!

Discussion in 'Stocks' started by S2007S, Aug 4, 2011.

  1. S2007S


    Drug maker Dendreon (DNDN) was hot stuff over the last two years. The shares skyrocketed amid widespread excitement over Provenge, a cutting-edge prostate cancer treatment approved by the FDA in April that sell-side analysts widely expected to eventually generate blockbuster sales. But today, Dendreon’s stock price plunged more than 64% to just under $13 a share after the company disclosed that Provenge sales are growing slower than expected and yanked its 2011 revenue estimate, prompting Wall Street to reassess its view of the biotech company.